Stakenet is the Cyberpunk Standard of Banking

[Anonymous No.20791057]

The momentum of the cryptocurrency space has snowballed exponentially over the past decade. Each market cycle to this point has brought a cornucopia of new strides and breakthroughs in blockchain technology. The rapid growth has led to immense profits for an uncountable number of long-term participants.

Adoption continues to spread with increased institutional backing and consumer payment channels. Indeed, all signs point to cryptocurrencies reaching a new plateau on the stage of global commerce. An essential question must be asked at this transitory junction in what appears to be the early stages of another bull market. How far will profit allow the underlying blockchain technology to deviate away from the roots of its essence and justification? There is no better source to reflect upon than the Cypherpunk Manifesto.

That which ages among the best is that which only becomes more biting and significant over time. Originally published by Eric Hughes in March of 1993, the Cypherpunk Manifesto has a short, sweet, and directly to the point message with an especially understated foresight about it that’s decades ahead of its time. It is a must-read for any digital native. It emphasizes the essence of digital privacy, decentralization, censorship-resistance/immutability, and the freedom to remain anonymous at-will. It argues that these principles be made manifest for any form of communication or commerce. Its backbone lies with every individual coder who cherishes the fruits of civil liberties and dares to counter and obsolete the many intrusive and invasive forms of technology with open-source, cryptographically effective solutions for the greater good of society.

[Anonymous No.20791072]

>>20791057
These were the principles that Bitcoin was constructed with and designed to honor. While its inherent technology stays true to this nature (mining aside), the infrastructure that has been built up around it is flawed by design and sacrifices a good number of strengths and freedoms. Most notably are the many vulnerable points of exchange run by central authorities on trust where funds are at risk to be frozen or stolen, KYC (know your customer) policies, and the traceability, restrictions, and risks that come from these two points.

Shortly after BTC found a value that could be directly pegged to the USD (and with the USD, every global currency), a number of exchanges offering trade between the two opened for business. The first of these exchanges was the infamous Mt. Gox which implemented KYC policies by 2011 before exit scamming in early 2014. KYC policies were initially introduced to comply with the many regulations regarding the exchange of various fiat currencies for crypto in addition to demanding a deeper sense of customer accountability. Up until the point that they were introduced, the only sure way it would have been possible to trace specific addresses is if the recipient publicly disclosed their wallet address. KYC brought a considerably more advanced form of traceability with it. In addition to e-mail addresses and bank accounts, everything from names, addresses, full ID info, and pictures of each and every customer became tethered to their respective deposit and withdrawal history. Though somewhat convoluted with the nature of exchange wallets, there are patterns that can be followed and traced.

As BTC continued to grow, so did the number of its forks and competing cryptocurrencies pegged to its value in satoshis. The forks grew to be numerous and with them, the number of centralized C2C exchanges where you could trade them for BTC. Like the fiat-to-crypto exchange points before them, KYC was implemented on numerous C2C exchanges as well.

[Anonymous No.20791162]

>>20791057
>>20791072
Centralized exchanges of all sorts are perhaps the weakest link in entire cryptocurrency space. They have repeatedly proven to be weak in terms of security. This year alone, the following exchanges have been compromised: Binance, Bithumb, Coinbene, Coinbin, Cryptopia, and QuadrigaCX. What’s worse, they’ve sacrificed many of the core principles of the cypherpunks that built Bitcoin in the first place.

How can crypto be censorship-resistant and immutable if exchanges can decide to freeze funds or put a certain wallet into maintenance at whim? How can it be private if every account has every bit of trade, deposit, and withdrawal history it has done tethered to its name? How can it be anonymous at-will if full documentation is demanded, sometimes as a ransom for frozen funds? How can it be secure when billions of dollars have been hijacked from weak security? It could be argued that these exchanges are the antithesis of the cypherpunks: an easily-exploitable honeypot of funds and user data with a central authority.

[Anonymous No.20791176]

>>20791057
>>20791072
>>20791162
Consider the efforts of the X9 Developers building Stakenet. True to the nature of the cypherpunks, they have been working to make these numerous vulnerabilities in the cryptocurrency infrastructure obsolete. To strengthen censorship-resistance and decentralization in this space, they have been implementing an immutable and purely decentralized exchange into their network where no central authority can freeze funds, where exit scamming is impossible, and where security is as tight as the blockchain technology it runs atop. To restore the principle of at-will anonymity, their immutable DEX will have no KYC, nor will it require registered accounts. In the interests of privacy, they have built a solution that allows for one-click TOR lightning swaps that strengthen the privacy of every participating coin and the Lightning Network itself. To strengthen the nature of the decentralized exchanges that are already out there, they are working on a DEX aggregator that pools together the offerings of many promising DEXes suffering from low volume or difficulty of use.

[Anonymous No.20791198]

>>20791057
>>20791072
>>20791162
>>20791176
Put briefly, this team has the foresight and skill to acknowledge and address the numerous risks and shortcomings that anyone coin may face the second it is sent from a private wallet to any other point in trust. They are compounding these solutions into one streamlined and convenient wallet where funds are firmly secured, trustlessly staked, and instantly tradable from one singular point.

To build up the world of cryptocurrency is to honor the ways of the cypherpunks and carry on their torch. It is to fight for freedom from the intrusiveness and corruption of centralized authorities by obsoleting them. It is preserving the privacy of funds, resisting mutability, and decentralizing any and everything which stands to benefit from it. Whether that be a store of value, the means by which that value is secured and traded, or the platforms on which these mechanisms are discussed. This era of mass-censorship, intrusiveness, digital balkanization, and monopolies from many of the premier digital spaces not only shows how right they were 26 years ago but that there is still a considerable amount of work to do.

[Anonymous No.20791247]

Nice.

[Anonymous No.20791349]

How much progress have they actually made though?

[Anonymous No.20791372]

>>20791057
I’ve seen XSN shilled here quite a bit and it does seem legitimately interesting. Any more reading material on it?

[Anonymous No.20791452]

>>20791349
The Stakenet light wallet will release with the DEX application on it shortly(by the end of september). This in itself will be huge. It will be a decentralised hub where you can store all of your tokens privately and conduct your trades privately(and cheaply) with no registration or KYC.

This is practically completed, and anyone can join the discord and ask for access to the beta which you can use yourself.

Raiden integration is a few more months behind the public DEX release, and will allow you to swap BTC or any other blockchain for ETH and ERC20 tokens.

>>20791372
Good reads
>Whitepaper
https://stakenet.io/Stakenet_Whitepaper.pdf
>Quick rundown
https://medium.com/stakenet/multi-currency-wallet-and-lightning-swaps-stakenet-solution-7d0dafe99105
>X9's contributions to LTC
https://medium.com/stakenet/litecoin-foundation-and-x9-developers-announce-collaboration-510ca985b6
>Exertive Proof of Stake
https://medium.com/stakenet/exertive-proof-of-stake-epos-4a999807f9e4
>Great write-up of Cross Chain Proof of Stake (i.e. stake XSN, receive BTC)
https://medium.com/stakenet/posw-weekly-ccpos-cross-chain-proof-of-stake-de1ac87055cd
>The Cypherpunk Standard of Banking
https://medium.com/altcoin-magazine/the-cypherpunk-standard-of-banking-88f84a834180
>Most recent Dev Update
https://medium.com/stakenet/xsn-dev-update-july-1st-c80b1975a58

Further reads
https://medium.com/stakenet

[Anonymous No.20791562]

>>20791349
Quite a lot. Hope your ready for proper crypto, not the bullshit we have now (high gas fees, slow transactions).

[Anonymous No.20791970]

>>20791349

[Anonymous No.20792042]

>>20791970
Alright how do I buy this?

[Anonymous No.20792078]

>>20792042
Livecoin or the DEX.

[Anonymous No.20792239]

>>20792078
Is one masternode enough to make it?

[Anonymous No.20792244]

>>20792239
Yes.

[Anonymous No.20792284]

>>20791562
The whole industry is like this.
All talk, plenty of gatekeeping, no action.
Expect them to snub this every step of the way until it outshines them.

[Anonymous No.20792308]

>>20792284
Once the DEX is release I think then we will start to see more discussion on it. I haven't seen any crypto 'tubers' mention XSN at all. Barely see it anywhere but /biz/.

[Anonymous No.20792359]

jesus please stop with this pathetic PnD scam. Everyone stupid enough to buy your bags already has

[Anonymous No.20792505]

>>20792359
not an argument, blockcuck.

used the 'exploit' yet? lmao

[Anonymous No.20792677]

>>20792239
yes.

[Anonymous No.20792892]

>>20792244
>>20792677
Checked. Guess I have to go all in now

[Anonymous No.20793087]

where can I store after I buy? is there a wallet?

[Anonymous No.20793132]

we alrwady have uniswap
no need for another meme dex

[Anonymous No.20793196]

>>20793132
are you not here for pumps, rajneesh

[Anonymous No.20793223]

>>20793132
uniswap is ERC-20 coins only you baboon.
This will have BTC and so on first and with Raiden integration later all ERC-20 coins as well. So you can finally trade your BTC for your favorite ERC shitcoin

[Anonymous No.20793252]

>>20793132
Uniswap only works on the ETH blockchain, so no BTC, no XMR, it's super expensive 5-6$/swap and those often fail without any gas refund. You can't cold exchange and it's on-chain so it's dependend on all the other usages of ETH.

Stakenet will swallow uniswap whole.

also, learn to fucking read.

[Anonymous No.20793258]

>>20793223
>uniswap is ERC-20 coins only
it's more than enough
>>20793223
>This will have BTC
there is binance. Also no one cares
>>20793223
>with Raiden integration later all ERC-20 coins
Yes later on and you bought the top

[Anonymous No.20793272]

>>20793223
no shit, thank you for explaining it to the pajeet. some peope, man.

[Anonymous No.20793278]

>>20793252
>it's on-chain so it's dependend on all the other usages of
it's fast. It's more then enough
It's fast especially with ETh 2.0

[Anonymous No.20793323]

>>20793258
I see you changed your IP

>bought the top
>$25million MC for a decentralised exchange with interchain lightning swaps over TOR

sure thing blocknet cuck, thanks for coming in here to clear this all up

[Anonymous No.20793328]

>>20792078
Kek

[Anonymous No.20793351]

>>20793132
lol, uniswap is trash
its only used because its basically the only option for shitcoin pumps
anything that removes does what uniswap does but faster and with lower fees will instantly replace it

[Anonymous No.20793385]

>>20793132
>>20793258
Uniswap is run onchain so it causes and suffers from congestion issues. Also it's only ETH. XSN DEX will have lightning + raiden + other lightning coins + monero and more to come in the future.
>Binanace
Binanace is a CEX not a DEX, No KYC is very important here. Raiden is over 50% done btw.

[Anonymous No.20793402]

>>20793323
Very based. I always forget about TOR, it's already in the beta too.

[Anonymous No.20793469]

having a hard time deciding not to go all in here, target please fellow anons. Is this outside /biz yet? any youtube/twitter on this shit ?

[Anonymous No.20793478]

>>20792308
Waiting for a shoutout from Vitalik.
I dont see how the ETH foundation could possibly ignore BTC/ETH swaps via Raiden.

[Anonymous No.20793571]

>>20793469
No you won't see this outside /biz/ until DEX releases.
>>20793478
Look at how the market and 'crypto people' treat chainlink. Considering what XSN is doing they may not mention us until after DEX release.

[Anonymous No.20793650]

thanks. what do you think this will go mcap wise. Top 50?

[Anonymous No.20793674]

>>20793469
literally no one outside of /biz/ knows about this. talk about early adoption investing - this is it. this is ground 0.

>>20793478
Its important to remember that if Stakenet is successful in its endeavours(it already has been in regards to building a working product), this technology is going to make a lot regulators and centralised authorities completely obsolete. Stakeholders stand to make a fortune, but our competition stands to lose a lot of market share, if not everything.

Coin market cap is owned by Binance, and coincidently, Stakenet is not even listed in the 'DeFi' list of projects.

Another great comparison is Chainlink - another major disruptor and one of the only projects in crypto with fundamental world changing utility, and look at how it is treated in the crypto community outside of /biz/.

[Anonymous No.20793712]

>>20793650
Easily top 20. Currently at rank 20 XSN will have at least a 2B MC which would put us at $20 per coin.

[Anonymous No.20793721]

based af

[Anonymous No.20793728]

>>20793674
Regarding CMC, stakenets rank is kept down even though it's marketcap is higher than some projects....

[Anonymous No.20793743]

damn..I'm in 10 eth, but thinking about dropping a whole btc more

[Anonymous No.20793839]

>>20793650
I firmly believe a $2 billion+ Market cap within 2 years is a conservative estimate, providing we get to stage 3 by then. This team is one of the most reputable in crypto and has delivered new innovation year after year. Look at the work they have done with Trezor, Ledger and Lightcoin(on their website https://stakenet.io/If))

[Anonymous No.20793879]

>>20793571
Most 'crypto people' you see prefer to latch on to ideas and constructs that have already proven themselves. They fear, dismiss, or deride that which they dont understand and that which doesn't have clout yet. Once it does, they will hop on the bandwagon and tattoo XSN on their stomach in between posting shitty inspirational copium on twiitter

[Anonymous No.20793980]

>>20793879
haha, that's fucking hilarious. and true

[Anonymous No.20794115]

>>20793879
Sad but true. They will never make it.